If the government-imposed price of corn is greater than the market price,
a. the quantity of corn supplied will exceed the quantity of corn demanded.
b. the quantity of corn supplied will be less than the quantity of corn demanded.
c. the demand curve for corn will increase.
d. the supply curve for corn will increase.
a. the quantity of corn supplied will exceed the quantity of corn demanded.
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Suppose 60% of U.S. trade is with England and the rest is with Japan. If the dollar rises by 20% against the pound but falls by 20% against the yen, what is the percentage change in the effective exchange rate of the United States?
a. -12% b. -4% c. ±0% d. -8%
Answer the following statements true (T) or false (F)
1) As a percentage of GDP, U.S. health care spending is higher than that of any other major industrial country. 2) The health care industry currently absorbs about 18 percent of U.S. gross domestic product. 3) Health care costs in the United States have risen absolutely but remained constant as a percentage of gross domestic product. 4) Rising health care costs have prompted workers to change jobs with greater frequency.